Please answer in reference to the Uk.
2007-01-15 06:23:09 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
Credit sale:
This is the most common type of credit agreement. Under credit sale, you buy the goods at the cash price. You usually have to pay interest but some suppliers offer interest-free credit. Repayment is made in instalments. You are the legal owner of the goods as soon as the contract is made and the goods cannot be returned if you change your mind. The supplier cannot repossess the goods if you fall behind in repayments but can take court action to recover the money owed if you are in arrears. Credit sale agreements are now more common than hire purchase agreements and it is important not to confuse the two.
2007-01-15 06:30:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The buyer gets the goods before the seller gets the money.
Normaly the time differance is a month, at the end of the month the buyer pays back all purchases.
2007-01-18 07:48:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
another way of getting money out of you.
2007-01-18 00:02:54 · answer #3 · answered by NIGEL R 7 · 0⤊ 0⤋